Koc Holding Plans $3.4 Billion of 2012 Investment, Hurriyet Says

Koc Holding AS (KCHOL), Turkey’s biggest industrial group, will invest 6.5 billion liras ($3.4 billion) in 2012, Hurriyet reported, citing Chairman Mustafa Koc.

The investment will be focused mainly on Ford Otomotiv Sanayi AS (FROTO), its joint venture with Ford Motor Co. (F), and Tupras Turkiye Petrol Rafinerileri AS (TUPRS), the country’s sole refiner, the newspaper cited the chairman as saying. The plan doesn’t include power plant investments, possible acquisitions by Koc Holding’s home appliances units or potential purchases from state asset sales, Hurriyet cited Koc as saying, without specifying where he was speaking.

To contact the reporter on this story: Ercan Ersoy in Istanbul at eersoy@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net

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